Author: saveinvestbecomefree

The main argument used against pursuing financial independence (i.e. saving a lot of your income) is because someone likes their job. After all, if you like your job then you’re not trying to get out of it quickly and retire. And since you’re not trying to retire, you don’t need to save much and you can spend more money. A win-win! Sounds great right? Continue reading “Don’t depend on your current job”

I’ve finally made the decision. I’m retiring! Time is precious. It’s a scarce resource we can never get more of. Many people (and it’s hard to argue) consider time to be the currency of true wealth, and the ability to spend it how we want as the ultimate luxury. There are so many important things I want to spend time on that I have to be ruthless in how I allocate my time “spending”. So I’ve decided to stop working Continue reading “I’m Retiring Today!”

Why does someone start blogging about financial independence? Most people seem to start blogging because they become so immersed in their goal of financial independence that it becomes a big focus of their lives. They constantly think about it and naturally gravitate to writing in the FIRE (financial independence, retire early) community. In some cases, this evolves into a side business based on this passion. In my case, it was a bit different. I didn’t start blogging until my wife and I had already reached FI (financial independence). So why did I decide to start a blog? Continue reading “Inspiration for This Blog”

This post is for those earlier in their financial independence (FI) journey who have graduated from a focus on paying down debt, building a small emergency fund and getting any employer 401K contribution match (if you’re lucky enough to get this), and are now faced with the nice problem of figuring out where to invest the extra income each month.

This is typically a time of anxiety. You feel like you’re putting your hard-earned money at risk by investing even though you know you have to. But how to make the right choice? There are so many ways to invest and as we’ve discussed before, too many choices is paralyzing and makes it seem impossible to make the “right” choice.

Well, yes, it’s pretty obvious that the freedom of not being dependent on a job to pay for your lifestyle is pretty great for a lot of reasons. You can find top 10 and other such lists of these reasons on the internet with a quick search.

But these lists tend to be matter-of-fact and obvious.

If you’re FI, you can quit your job if you don’t like it! Really? Maybe I have higher standards for my readers but I’m guessing 100% of you have figured that one out already!

Decumulation is the technical term for spending down one’s assets. It’s the opposite of the accumulation phase of building up those assets. So typically it’s the point at which you transition from your job income that is both paying your living expenses and allowing you to save money, to where your savings now need to pay for your living expenses. Your net worth slowly declines as you spend the money you saved. It’s a stark transition and it’s psychologically difficult.

I cover a lot on investing here on SaveInvestBecomeFREE (IBFREE). There is a reason for this. Savings is the only way to build your wealth but once you have quite a bit saved and plan on using that money to fund your lifestyle for a long time (maybe 50 years for a very early retiree!), good investing becomes the main factor between financial success and failure.

Your post-job, lifetime financial success depends on how you manage the money you saved.